Chart for trading on time frame charts below 1D chart

12 Okt

Hello, traders.

If you "Follow", you can always get new information quickly.

Please also click "Boost".
Have a nice day today.

-------------------------------------


This is an indicator created for trading on time frame charts below 1D charts.

Therefore, there is nothing to explain.

This is because trading should be conducted according to your own trading strategy or response strategy.

However, I hope that it will be a reference material that allows you to create a trading strategy or response strategy that suits you by looking at the points where you can start trading or the points where you can respond.


To use this chart, click the three dots below this idea and click Grab this chart.

---------------------------------------------

The basic trading method is as follows.

1. The BW 0 line or BW 100 line is the standard line for trading.

Therefore, to start trading for the first time, you will trade with a buy (LONG) or sell (SHORT) position depending on whether these two lines are supported.

2. The Mid (50) line is the position conversion line.

Therefore, when trading with a sell (LONG) or sell (SHORT) position, if you touch the Mid (50) line, you should proceed with a split transaction or liquidate depending on the situation.

3. The High (80 Down), Low (20 UP) line plays the same role as the Mid (50) line, but it is a line for the main purpose of a split transaction.

Therefore, in the case of a low time frame chart, it may be more helpful to deactivate the High (80 Down), Low (20 UP) lines.

-
The additional trading method is as follows. 1. If it falls below the BW 0 line, it is likely to lead to a stepwise downtrend.

2. If it rises above the BW 100 line, it is likely to lead to a stepwise uptrend.

Therefore, if 1 and 2 occur, you should conduct split trading near the Mid (50), High (80 Down), and Low (20 UP) lines.

To determine this, it is recommended to conduct trading by referring to the movement of the StochRSI indicator.

If the StochRSI indicator has entered the overbought zone, it is highly likely to lead to an additional rise.

Therefore, if it falls in the overbought zone and changes to a state where StochRSI < StochRSI EMA, the price is likely to continue to decline.

Conversely, if the StochRSI indicator has entered the oversold zone, it is highly likely to lead to an additional decline.

Therefore, if it rises in the oversold zone and changes to a state where StochRSI > StochRSI EMA, the price is likely to continue to rise.

With this interpretation method, I recommend using it as a basis for judging how to proceed with a transaction when the price is located near the BW 0 line and the BW 100 line.

-
When trading, it is recommended to proceed based on the trend of the 1D chart.

In other words, if the 1D chart maintains an upward trend, it is recommended to proceed with a transaction to maintain a long position.

If you need to trade in the opposite direction of the 1D chart trend, remember that a short and quick response is required.

In order to see the overall trend, the M-Signal indicators of the 1M, 1W, and 1D charts have been added.

For scalping or day trading, the 5EMA indicator of the 1D chart has been added.

-
Have a good time.
Thank you.

--------------------------------------------------